Abstract
In recent years, China has continued its economic and
military ascendency within the region and beyond, posing
challenges to the supremacy of the US. The model of
economic development that China has followed in the last
few decades is being called the Beijing Consensus (BC) or
China Model which is viewed as an alternative to the
Washington Consensus (WC). However, to become a global
hegemon requires much more than just a strong economy. At
the moment, it seems unlikely that China can become a
hegemon in the near future. Despite its fast growing economy
and policies to keep this growth sustainable, China faces
domestic as well as regional challenges. Until it is able to
replace the US as the leading power in global politics it won’t
be able to influence other nations to the degree it might want.
Although the Chinese model of economic development is
increasingly being viewed favorably, most of the world still
advocates the WC, which has been around for much longer.
In addition, unless China is seen as following the
conventional democratic values it might face a number of
challenges at the intra and inter-state level
Tasawar Baig, Shiwei Jiang Tristan, Ms. Saadia Beg. (2018) Beijing Consensus and China’s Rise as an Economic Power: Seeking a Viable Alternate Economic Development Model for Developing Countries, Paradigms , Vol 12, Issue 2 .
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